RAK Petroleum names new CEO.
RAK Petroleum, the oil and gas exploration and production company based in Ras Al Khaimah, has named Bijan Mossavar-Rahmani as the company's new chief executive officer and the chairman of the board of directors.Mossavar-Rahmani was previously chairman of the executive committee of the RAK Petroleum board and the company's managing director. He succeeds Abdul Aziz Al Ghurair who stepped down after four years as the board chairman.
'I am pleased to continue to serve our shareholders in this new role and grateful to my predecessor for his leadership during the company's startup phase,' Mossavar-Rahmani said.
The board also named two others - Ambassador Zalmay Khalilzad and Amir Ali Handjani - to its ranks, said a statement from RAK Petroleum.
Khalilzad is chairman of Khalilzad Associates having previously served as US Ambassador to the United Nations, Iraq and Afghanistan. Handjani is a director of Taylor-DeJongh International and was formerly general counsel of RAK Petroleum.
Other board members are Sheikh Khalid Bin Saqr Al Qassimi (vice chairman and managing director of Gibca Group), Ahmed Jamal Jawa (CEO of Starling Holding), Ali Samir Al Shihabi (chairman of Rasmala) and Saeed Khoory (Group chief executive of Emirates National Oil Company).
RAK Petroleum is registered in the Free Trade Zone of Ras Al Khaimah and is operator of seven blocks in Oman and in the UAE, of which one is in the production phase, three are in the exploration phase, and three are undergoing appraisal for possible development/redevelopment.
The company holds a non-operated stake in an offshore exploration licence in the Tunisian Republic.
RAK Petroleum holds a 30 per cent shareholding in the listed Norwegian company DNO International ASA which operates oil fields in the Kurdistan Region of Iraq and Yemen in addition to an active exploration program in several other countries.- TradeArabia News Service
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| Publication: | TradeArabia (Manama, Bahrain) |
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| Date: | May 25, 2010 |
| Words: | 320 |
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